Initial Unemployment Claims Fall Again, Remain High
This morning, the Labor Department released an incrementally improved report on initial jobless claims. The number of Americans filing fell for the third straight week to 444,000, down from 451,000 the week before.
Calculated Risk posts the graph that makes it clear why this is not exactly a cause for celebration: Unemployment claims remain very high, and the drop in claims has stalled out. For the general employment picture to improve, that number needs to start falling.
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